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Trading Made Simple

  • #19,421
  • May 17, 2013 7:47pm May 17, 2013 7:47pm
Quoting Armacom
I made a little document with my trading plan and psychologie. I had never imagined that I would share something like that, it's quite personal. But this thread is different from the others, so much positive energie. I posted something last week and Emmanuel replied very friendly to me that motivated me to share this. Any thougths are welcome ! Happy trading {file}
Hi Armacom,

Thanks for your kindness of sharing the good documents.

By the way, I have read through your file and have some questions is that:
a. why only trade around London open? any special reason?
b. can you give a chart example of TDI angle is 12-2 and 4-6
c. can you give a chart example for a doji, a hammer, an inside bar and engulfing candle
d. what is the meaning of Stop-loss : 1,5 x ATR(7), can you show an example?
e. what is the meaning of Take profit: 50% of the trade at 2 x ATR(7) and 50% of the trade at 4 x ATR(7), can you show an example?

Sorry to ask so many questions here because I am newbie in Forex and I always believe that I can achieve Financial Freedom in Forex Industry.

Appreciate for your reply,
Prominent88
  • #19,422
  • May 17, 2013 8:11pm May 17, 2013 8:11pm
Quoting bigpips
Good post and document! You are on right track...or so I hope cause Im doing things very similair! Away from short timeframes..4h and higher for me! Simple rules, easy to follow: Day/week direction Moving from Support/resistance with TDI cross Tok-5h breakout with TDI cross Im trying to make things very simple..looking at less is better for me at moment. Sometimes i miss things Emmannuel mentions but we have to remember he's more experienced and we'll get there. Enjoy the journey! This is a great place to be {quote}
Hi bigpips,

May I know what is Tok-5h breakout with TDI cross? Can show any example?

Thanks for your help,
Prominent88
  • #19,423
  • May 17, 2013 8:56pm May 17, 2013 8:56pm
Quoting emmanuel7788
{quote} weaker data out of the UK somewhat slowed down the GBPJPY rise ...there is still some way to go as both Abe and Aso will continue push for weaker Yen to boost export and help boost Japanese economy and recovery. Market just afraid of BRN. {image}
Hi Emmanuel7788,

What is Abe, Aso and BRN?

In your previous attached chart, you mention that ''the market has the habit in remembering where it had been to and wants to return to visit'', is it you try to say that market will break the resistance and go bullish?

Thanks for advice,
Prominent88

Attached Image (click to enlarge)
Click to Enlarge Name: 26.png Size: 43 KB
  • #19,424
  • May 17, 2013 9:14pm May 17, 2013 9:14pm
Quoting Jackub
It was late entry, but it worked out, over 90 pips.. {image}
Hi Jackub,

From your post #19385,

I see that you take a AU trade, in between the trade, the TDI has cross, flatten and hook back many times, why you do not close your trade?

I am curious why you only close your trade at 0.97431?

For me, I will immediately close a trade if the TDI flatten or hook back.

Thanks for your advice,
Prominent88
  • #19,425
  • May 17, 2013 10:34pm May 17, 2013 10:34pm
Quoting Armacom
I made a little document with my trading plan and psychologie. I had never imagined that I would share something like that, it's quite personal. But this thread is different from the others, so much positive energie. I posted something last week and Emmanuel replied very friendly to me that motivated me to share this. Any thougths are welcome ! Happy trading {file}
Thanks for trading plan document, it would be very helpful in this thread
I Have Learned to Take Some Losses to Make Profits
  • #19,426
  • Edited May 18, 2013 7:06am May 17, 2013 11:11pm | Edited May 18, 2013 7:06am
Quoting Armacom
I made a little document with my trading plan and psychologie. I had never imagined that I would share something like that, it's quite personal. But this thread is different from the others, so much positive energie. I posted something last week and Emmanuel replied very friendly to me that motivated me to share this. Any thougths are welcome ! Happy trading {file}
Awsome text nice plan, mate...

is not important now what is in there, will not comment content, now is a time to APPLY this to your traders live! If you will manage apply whole plan, if you follow YOUR rules , result will tell you the truth....
ALWAS APPLAING is a crutial part of every plan, wish you all the best!
JacekPreserve Precious Capital
  • #19,427
  • Edited May 18, 2013 12:58am May 17, 2013 11:30pm | Edited May 18, 2013 12:58am
Quoting Prominent88
{quote} Hi Jackub, From your post #19385, I see that you take a AU trade, in between the trade, the TDI has cross, flatten and hook back many times, why you do not close your trade? I am curious why you only close your trade at 0.97431? For me, I will immediately close a trade if the TDI flatten or hook back. Thanks for your advice, Prominent88
Good question... but answer is simple, I went to the trade right after weekly 127% was broken with SL just above Yesterday High, and price went down nicely.... after 5 hours we had US news and I was expecting that price might retrace, but belived will be stoped at same weekly Fib 127%. Then took look on H4 and D1, and I saw VERY strong down trend and TDI RT making very small ripple only on D1 and not really crossing H4 all candles red, so let the trade run through the night. Pity I had to close this early Friday ( I had go out for rest of the day) becouse more 40 pips was easy to get from this trade before weekend.
It was risky, but I was sure the AU will resume retrace soon .

I do often, entries on H1 and if entry was later confirmed on H4 , I am following trade according H4 rules...
JacekPreserve Precious Capital
  • #19,428
  • May 18, 2013 1:35am May 18, 2013 1:35am
Quoting irishtoffy
Hey, I took this trade today based on the just finished 4H CS. It seemed like a strong bullish candle, the trend is bullish. I put SL where you see it at swing low, have TP1 at swing hi 9740, and TP2 9799. Is this a valid TMS entry? I have a terrible habit, of closing out winning trades early and letting my losers run. Its so hard to just forget about a trade after I open it. I see now how its so much psychological! I also lost 2 trades this week because I put a SL too close..so yet another lesson to learn..pick a reliable SL {image}
Hi irishtoffy,

I am agree with you, I always do all these mistakes you mention just like you is that I like to close early my winning trades and letting my losing trades run for long time end up lose all pips there, sometimes break-even.

So I would like to ask any experience traders in this thread to show and guide me (newbie in forex) to control the trade decision and psychology.

Appreciate for any comments,
Prominent88
  • #19,429
  • May 18, 2013 1:54am May 18, 2013 1:54am
Quoting irishtoffy
Hey, I took this trade today based on the just finished 4H CS. It seemed like a strong bullish candle, the trend is bullish. I put SL where you see it at swing low, have TP1 at swing hi 9740, and TP2 9799. Is this a valid TMS entry? I have a terrible habit, of closing out winning trades early and letting my losers run. Its so hard to just forget about a trade after I open it. I see now how its so much psychological! I also lost 2 trades this week because I put a SL too close..so yet another lesson to learn..pick a reliable SL {image}
Hi mate,

Your entry was valid and worked out very nice, but take look on the screenshot

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh1.png Size: 42 KB


white strip I made shows recent support/resistance line, which worked for your entry, in fact created it. Last swing low was just stoped by this line and turned up. Your SL could be right under this line giving you chance for multi R trade... my two cents...
Trade, anway, very nice...
JacekPreserve Precious Capital
  • #19,430
  • May 18, 2013 2:02am May 18, 2013 2:02am
Quoting Pipsmurfer
Like I announced this morning I was watching GPBJPY. I'm short now, break of TL. cross TDI on H4. I'm aware that it's CT trade. {image}
Hi Pipsmurfer,

I have see your 4H GJ chart, and I attached my 4H GJ chart as well.

But I notice that there is some differences between the last 2 candles of my chart and yours. In your chart, the last 2 candle is red candle but for my chart, there is 2 blue candle which I mark with vertical line.

Why is it different? Can anyone advise on this?

Thanks,
Prominent88

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4 - 170513.png Size: 37 KB
  • #19,431
  • May 18, 2013 2:08am May 18, 2013 2:08am
Quoting Prominent88
{quote} Hi Pipsmurfer, I have see your 4H GJ chart, and I attached my 4H GJ chart as well. But I notice that there is some differences between the last 2 candles of my chart and yours. In your chart, the last 2 candle is red candle but for my chart, there is 2 blue candle which I mark with vertical line. Why is it different? Can anyone advise on this? Thanks, Prominent88 {image}
Most likely different brokers having different time zone , Pipsmurfer is from Europe and you are from Asia.
JacekPreserve Precious Capital
  • #19,432
  • May 18, 2013 2:08am May 18, 2013 2:08am
Quoting emmanuel7788
{quote} EJ 17 May: there is still no breakout of this 15 May US PPI Bar H4 high-low yet... no trading until this breaks.
Hi Emmanuel7788,

What is US PPI Bar?

Tq,
Prominent88
  • #19,433
  • May 18, 2013 2:12am May 18, 2013 2:12am
Quoting Prominent88
{quote} Hi Emmanuel7788, What is US PPI Bar? Tq, Prominent88
See no Emmanuel around...
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-05-18_12-11.jpg Size: 192 KB


Bar created by this news
JacekPreserve Precious Capital
  • #19,434
  • May 18, 2013 2:21am May 18, 2013 2:21am
Quoting Prominent88
{quote} Hi Armacom
Hi Prominent !

Most of your questions are basic questions that you should fin an answer here in the thread. Did you read everything at www.babypips.com ? It's a really good site for beginners

A : Because that is the time I can spend on my charts and it's the time BIG E recommends.
B : Just imagine a clock on the wall. Now imagine that the lines of the TDI crossed. Is the line pointing more at 1 o'clock or rather 3 o'clock ? The steeper to the sky or the steeper to the ground, the better ! But it's all in the thread, read it, you won't regret it !
C : Start reading here http://www.babypips.com/school/sexy-...e-shadows.html they explain this basic bars better than I can
D ; I can not really show you an example because it would just be a line on my graph. ATR or Average True Range is calculated by looking at the movement of the last 7 periods. It fluctuates and changes under market conditions. I choose 1,5 because most of the time it's just under the previous swing low or just above previous swing high. I take an arbritary 1,5 and multiply it by the recent (7) range
E : It means I close 50% of my position at 2 times ATR and the rest of my position at 4 times ATR. If for example I open a position of 1 standard lot and that the ATR = 30 than I will close 0.5 lots at 60 pips from the market price where i opened my 1 full lot and the other 0.5 lots at 120 pips. Again the multiplacation by 2 and 4 is arbritary. I choose value that are higher than my stop-loss so that even with 50 - 50 winners losers I can be profitable

I don't mind you asking question but i truely believe there are far better ways to learn forex than my asking us questions or reading just one thread. Start at www.babypips.com/school and read everything you can. If there is something you don't understand look it up. With that knwolegde you will be so much closer to your goal. After that come back to here, and everybody will help you with whatever questions you have ! Also be carfull with what I say, I'm far far far from being an expert I WARNED YOU

Good luck !!
Don’t ever let someone tell you that you can’t do something.
  • #19,435
  • May 18, 2013 2:25am May 18, 2013 2:25am
Quoting TheScorpS
{quote} Thanks for trading plan document, it would be very helpful in this thread
Hope it can help anyone

Jackub thank you for the kind words ! You are absolutely right, it's the next step, only then will i see how good the plan is
Don’t ever let someone tell you that you can’t do something.
  • #19,436
  • May 18, 2013 4:47am May 18, 2013 4:47am
Quoting emmanuel7788
{quote} Hernan, Welcome to this TMS thread. To learn this trading method, you must find the time to read this thread. I know there are many posts to read but it will be worth the work and you will learn a very simple trend trading method here and you must make that the core of your own trading system. There is a pdf summary made so this can be a quick start. Here download and read over this weekend. http://www.forexfactory.com/attachme...mentid=1179094 All the TMS trading rules are in that pdf. The main indicator we use is the...

Emanuel, hola? hablas español?

Thanks for your answer. Very kind of you. I will analyse what said in more depth, and of course, read that pdf. Great that someone did that pdf! Yes! 970 pages! whoa!.... I want to try this while reading them if possible, I am not a newbie per se -let's define newbie ! Do I live of trading? NO! How close am I to live from trading ? 1 light year!...have I read books, watched videos, attended courses and seminars ? yes I did.

Do you live of trading Emanuel? Just out of curiosity... or anyone here does? Why do you keep this thread alive? did you know Big E as u call him? I am really sorry to hear he past away.

Gracias

Saludos

Hernan
  • #19,437
  • May 18, 2013 7:07am May 18, 2013 7:07am
Quoting Prominent88
{quote} Hi Emmanuel7788, What is Abe, Aso and BRN? In your previous attached chart, you mention that ''the market has the habit in remembering where it had been to and wants to return to visit'', is it you try to say that market will break the resistance and go bullish? Thanks for advice, Prominent88 {image}
Abe and Aso are Japanese names:

Abe is Japan PM Shinzo Abe
and
Aso is Japan Finance Minister Taro Aso

BRN is Big Round Number for eg. 1.3000 , 158.00
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,438
  • May 18, 2013 7:11am May 18, 2013 7:11am
Quoting Erebus
{quote} TYPE ANYTHING YOU WANT IN HERE As per the picture, Insert the link as normal, where you see the highlighted area, you can type anything you want in there or go to another page, Copy (Cntl+C) and come back and paste (Ctrl+V) while it is still highlighted ans it will be pasted in there, good luck, PS - you are doing terrific job here, I am having good success with 100pipsadays threads {image}

Erebus,

Thank you for this lesson on hyperlink and your kind words.
I am sure members here also appreciate your posts in helping us in this thread.

Kind regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,439
  • May 18, 2013 7:15am May 18, 2013 7:15am
I made my Big Picture planning for EUR/USD for next week. Any comments are welcome
Attached File(s)
File Type: docx Big Picture Planning EUR.docx   107 KB | 618 downloads
Don’t ever let someone tell you that you can’t do something.
  • #19,440
  • May 18, 2013 7:26am May 18, 2013 7:26am
Quoting thewriter30
{quote} Emanuel, hola? hablas español? Thanks for your answer. Very kind of you. I will analyse what said in more depth, and of course, read that pdf. Great that someone did that pdf! Yes! 970 pages! whoa!.... I want to try this while reading them if possible, I am not a newbie per se -let's define newbie ! Do I live of trading? NO! How close am I to live from trading ? 1 light year!...have I read books, watched videos, attended courses and seminars ? yes I did. Do you live of trading Emanuel? Just out of curiosity... or anyone here does?...

hello Hernan,

sorry I don't speak Spanish but I love paella.

With some market trading experience, you will pick up trading TMS easily.

Many of us know eelfranz here in Forex Factory and many fondly calls him Big E. I post here as one way to help others wanting to learn to trade TMS. It is just a small way for me to pay forward what I have benefitted from others sharing here in FF.
I traded both stock market for 25 years and I quit my corparate career 6 years ago and now trade for a living. I started spot forex 6 years ago.

Hope to see you posting in this thread.

regards,

Have a Good Weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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